According to a new report, published by KBV research, The Global Analgesics Market size is expected to reach $42.6 billion by 2028, rising at a market growth of 6.6% CAGR during the forecast period.
The Non-opioids segment acquired maximum revenue share in the Global Analgesics Market by Type in 2021, thereby, achieving a market value of $29.6 billion by 2028. The increasing growth of the segment is owing to the widespread utilization of non-opioid analgesics in pain management, which have fewer side effects. Moreover, the growth of this segment is also owing to the government and commercial sector activities to promote the use of non-opioid medications as painkillers.
The Topical segment is showcasing a CAGR of 6.8% during (2022 - 2028). The growth of this segment is increasing due to advancements in healthcare technology as well as an increase in the number of analgesic medications. Topical analgesics are applied to the skin over aching muscles or joints and massaged or sprayed on. This method is widely being utilized in several healthcare facilities all over the world.
The North America market dominated the Global Analgesics Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $15.3 billion by 2028. The Europe market is estimated to witness a CAGR of 6.2% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 7.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/analgesics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of AbbVie, Inc., Reckitt Benckiser Group PLC, Abbott Laboratories, Johnson & Johnson, Bayer AG, Endo International PLC, GlaxoSmithKline PLC, Pfizer, Inc., Sanofi S.A., and Eli Lilly And Company.
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